Company Accounts

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1.  Asha Deep Company Ltd. issued 1,00,000, 7% debentures of Rs-100 each at a discount of 4% redeemable after 5 years at a premium of 6%. Loss on issue of debentures is  
A.
B.
C.
D.
2.  Share capital 5,00,000 shares of 10 each Rs. 5 called up Rs. 25,00,000 Calls in arrear Rs. 10,000 Calls in advance Rs. 15,000 Directors decide to provide 10% for dividend on share capital. Amount of proposed dividend will be____________.  
A.
B.
C.
D.
3.  Premium on redemption of debentures is recorded on the liability side under the heading.  
A.
B.
C.
D.
4.  On 1st April, 2006 Ram Ltd issued Rs.5,00,000 14% debentures at a discount of 10% repayable at the end of 5 years. Amount of discount to be written off every year will be  
A.
B.
C.
D.
5.  Alok Ltd. forfeited 300 shares of Rs. 10 each fully called up f ield by Ramfor non payment of allotment money of Rs. 3 per share and fina I call moneyof Rs.4 per share. Out of these shares 250 were reissued to Sc han lor a total payment of Rs. 2000. Amount transferred to capital reserve account will be  
A.
B.
C.
D.
6.  A Ltd. makes an issue of 10,000 Equity shares of Rs. 100 each payable as follows: On application and al lotment  Rs. 50   On First Call                                 Rs. 25 On Second & Fi nal Ca II           Rs. 25 Members holding 400 shares did not pay the second call and the shares are duly forfeited, 300 of which are reissued on fully paid at Rs. 80 per share. Amount transferred to Capital reserve will be_________.  
A.
B.
C.
D.
7.  Loss on issue of Debentures is generally written off in  
A.
B.
C.
D.
8.  Mr. Yogesh was the holder of 700 shares of Rs.100 each in KFC Ltd upon which 50 per share had been called up but he had paid only Rs.25 per share thereon. The company forfeited his shares & afterwards sold them to Kamlesh, credited as Rs.50 per share paid for Rs.25,000. The amount to be transfer to capital reserve is                                  
A.
B.
C.
D.
9.  G Ltd. acquired assets worth Rs. 1,50,000 from AB Ltd. by issue of shares of Rs. 10 each at a premium of Rs. 5. The number of shares to be issued by G. Ltd. to settle the purchase consideration will be  
A.
B.
C.
D.
10.  As per table A of the companies Act 1956, a company can charge interest on call in arrears at the rate of  
A.
B.
C.
D.
11.  A company purchased a plant for Rs. 5000 useful life of the plant is 10 years and residual value is Rs. 500. Rate of depreciation will be__________.  
A.
B.
C.
D.
12.  Ravi Ltd. issued 1,40,00,000, 9% debentures of Rs.100 each at a discount of 6%, redeemable at a premium of 5% after 3 years payable as Rs.50 on application and Rs.44 on allotment. Total amount of discount/loss on issue of debenture will be  
A.
B.
C.
D.
13.  Preference shares amounting to Rs.1,00,000 are redeemed at a premium of 5% by issue of shares amounting to Rs.50,000 at a premium of 10%. The amount to be transferred to capital redemption reserve account will be  
A.
B.
C.
D.
14.  Prakash Ltd. issued 15,000,15% debentures of Rs.100 each at a premium of 10%, which are redeemable after 10 years at a premium of 20%. The amount of loss on redemption of debentures to be written off every year is  
A.
B.
C.
D.
15.  Huge Ltd. issued 25,000 equity shares of Rs.100 each at a premium of Rs.15  each payable as Rs.25 on application, Rs.40 on allotment and balance in the first call. The applications were received for 75,000 equity shares but the company issued to them only 25,000 shares. Excess money was refunded to them after adjustment for further calls. Last call on 500 shares were not received and were forfeited after due notice. The above is the case of  
A.
B.
C.
D.
16.  Preliminary expenses in connection with flotation of a new company is  
A.
B.
C.
D.
17.  3,000 shares of Rs. 10 each of Krishna were forfeited by crediting Rs. 5,000 to share forfeiture account. Out of these, 1,800 shares were re-issued to Radhe for Rs. 9 per share. The amount to be transferred to capital reserve account will be  
A.
B.
C.
D.
18.  Discount on issue of debentures is a____________  
A.
B.
C.
D.
19.  The following information pertains to Sethi Ltd. (i)       Equity share capital called up Rs.10,00,000. (ii)      Call in advance Rs.90,000. (iii)     Call in arrear Rs.1,10,000                                                                               (iv)     Proposed Dividend 12% Amount of dividend for the year will be  
A.
B.
C.
D.
20.  Preference shares of Rs.3,00,000 are redeemed at par for which fresh equity shares of Rs.1,20,000 are issued at 20% premium. What amount should be transferred to capital redemption reserve account?  
A.
B.
C.
D.
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